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How many cryptocurrency exchanges will be licensed in Nigeria by end of 2024?
2
Resolution / Starting Odds
1 • 25%
2 • 25%
3 • 25%
4 or more • 25%
Nigeria SEC official announcements
Story
Nigeria SEC Grants First Crypto Exchange License to Quidax
Aug 20, 2024, 09:32 AM
Nigeria's Securities and Exchange Commission (SEC) has granted its first provisional operating license to a local cryptocurrency exchange, Quidax. This move marks a significant step towards formalizing and regulating the cryptocurrency industry in Nigeria. The SEC's decision includes requirements such as a 500 million naira minimum capital and insurance bonds for licensed exchanges. This development is part of a broader initiative by Nigeria to regulate the cryptocurrency market and integrate digital currencies into the national tax system. The Nigerian tax authority has proposed a comprehensive overhaul of the tax system to include cryptocurrencies, aiming to protect investors and ensure compliance within the growing digital currency market.
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Less than 50 • 33%
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4-6 • 25%
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10-12 • 25%
13 or more • 25%
MEXC • 25%
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31+ • 25%